ipoplaya_IHB
New member
no_vaseline said:
I'd agree with the "real estate I watch has stabilized at this level" part. Prices in Irvine have traded sideways for months now.
Shutdown the IHB? Is she nuts? What's the story?
- Thread starter 4walls4me_IHB
- Start date
NEW -> Contingent Buyer Assistance Program
I'd agree with the "real estate I watch has stabilized at this level" part. Prices in Irvine have traded sideways for months now.
Would you agree if speaking only of the VoC?
If I looked at my relatively small sample of data, I'd say yes. My gut says "oh no, prices are cratering there". 41 Desert Willow sold for $902K in Feb. 28 Desert Willow is the same plan I believe, closed in May for $920K. Qualifies as sideways.
Those same plans have dropped list into the $800s (maybe even one at $799K) now though so they will close considerably below those comps in the near future.
I have barely enough time to keep up with my normal posts....
I can't even keep up with you! you're 60ish posts ahead! :lol:
-bix
:lol:
Nice. But really, how can anybody even halfway informed NOT notice this?
-bix
I fail to see how -30% in price in any fashion can be interpeted as okay.
What? Volume is up from essentially zero?
I'd agree with the "real estate I watch has stabilized at this level" part. Prices in Irvine have traded sideways for months now.
no_vaseline_IHB
New member
ipoplaya said:
Would you agree if speaking only of the VoC?
biscuitninja_IHB
New member
IPO...
I'd like to see what the prices will do after selling seasons is over. It would be quite interesting. Take it easy
-bix
I'd like to see what the prices will do after selling seasons is over. It would be quite interesting. Take it easy
-bix
ipoplaya_IHB
New member
no_vaseline said:
If I looked at my relatively small sample of data, I'd say yes. My gut says "oh no, prices are cratering there". 41 Desert Willow sold for $902K in Feb. 28 Desert Willow is the same plan I believe, closed in May for $920K. Qualifies as sideways.
Those same plans have dropped list into the $800s (maybe even one at $799K) now though so they will close considerably below those comps in the near future.
no_vaseline_IHB
New member
About 40% of the posts here.
http://lansner.freedomblogging.com/2008/08/04/old-foreclosures-25-of-oc-sales/
I'm jealous of her. I could only wish to have this much free time on my hands.
http://lansner.freedomblogging.com/2008/08/04/old-foreclosures-25-of-oc-sales/
I'm jealous of her. I could only wish to have this much free time on my hands.
tmare_IHB
New member
I never picked up on why we all believe the author of these posts (most recently "provider") is female. It's an assumption I have made while reading the posts over the last year, but what exactly makes everyone so sure this is a female? Anyone else read Pete Viles and noticed the disappearance of "lefty".
biscuitninja_IHB
New member
no_vaseline said:
I have barely enough time to keep up with my normal posts....
I can't even keep up with you! you're 60ish posts ahead! :lol:
-bix
no_vaseline_IHB
New member
http://lansner.freedomblogging.com/2008/08/08/oc-sellers-getting-176000-less-for-homes/#comment-77916
There's no place like home..............
There's no place like home..............
graphrix_IHB
New member
Fannie Mae: Q2 Ended in June, but July was Worse
by CalculatedRisk
Opening comments from the conference call (hat tip Brian):
“You will recall, by way of background, that even though our second quarter books closed on June 30, subsequent events factor in, and in fact, heavily weight our outlook and our expectations going forward. And those events in July loom significantly in that calculus. That week of July 7 was one of the worst Fannie Mae has experienced in the debt and equity markets. The Treasury-fed backstop plan that was announced on July 13 calmed the market somewhat, and the passage of the Housing bill on the 26th of July added more certainty. But on the downside, July was a tough month for our credit performance. We experienced higher defaults and higher loan loss severities in the markets that were experiencing the steepest home price declines. And that gave us higher charge-offs than we had experienced in any month in the second quarter, and higher than we had expected. We also saw a higher proportion of foreclosures coming from states and products with higher loan balances, which increases the absolute dollar losses. In terms of severity, the loss that we experienced when a loan defaults also increased from 19 basis points in the first quarter to 23 basis points in the second quarter. And that rose again in July to 27 basis points. We are now seeing average initial charge off severities of 40% for loans in California. Home prices have cratered in certain markets since the peak -- Cape Coral, Florida, down 50%; Las Vegas, down 35%; northern Virginia, down 30%; and in California, Modesto, and Stockton, down 50%; Riverside, down 40%. The list goes on. Alt-A foreclosures have doubled in southern California. Our average serious delinquency rate in Florida increased in June to over 3% -- four times the average on our total book of business last year. Almost 2% of the loans in our Florida book are now referred to foreclosure. So, the housing market has returned to earth fast and hard. Some signs do offer rays of positive light. Foreclosures actually fell in Michigan . Same-period home sales were up in California . And as the GSEs provide most of the liquidity to the primary market, that market is functioning, and a safe center of credit risk pricing and product is being restored. All told however, that story all put together led us to again revise our credit loss estimate upward from the year, from 13 to 17 basis points to 23 to 26 basis points. And that, as you will note, commensurately drives our addition to loss reserves of almost $4 billion."
*emphasis added*
See the previous post from Tanta on Fannie Mae Push Backs. Alt-A lenders are probably pretty nervous.
Ear muffs! Ear muffs! Lalalalalalalalalala...
by CalculatedRisk
Opening comments from the conference call (hat tip Brian):
“You will recall, by way of background, that even though our second quarter books closed on June 30, subsequent events factor in, and in fact, heavily weight our outlook and our expectations going forward. And those events in July loom significantly in that calculus. That week of July 7 was one of the worst Fannie Mae has experienced in the debt and equity markets. The Treasury-fed backstop plan that was announced on July 13 calmed the market somewhat, and the passage of the Housing bill on the 26th of July added more certainty. But on the downside, July was a tough month for our credit performance. We experienced higher defaults and higher loan loss severities in the markets that were experiencing the steepest home price declines. And that gave us higher charge-offs than we had experienced in any month in the second quarter, and higher than we had expected. We also saw a higher proportion of foreclosures coming from states and products with higher loan balances, which increases the absolute dollar losses. In terms of severity, the loss that we experienced when a loan defaults also increased from 19 basis points in the first quarter to 23 basis points in the second quarter. And that rose again in July to 27 basis points. We are now seeing average initial charge off severities of 40% for loans in California. Home prices have cratered in certain markets since the peak -- Cape Coral, Florida, down 50%; Las Vegas, down 35%; northern Virginia, down 30%; and in California, Modesto, and Stockton, down 50%; Riverside, down 40%. The list goes on. Alt-A foreclosures have doubled in southern California. Our average serious delinquency rate in Florida increased in June to over 3% -- four times the average on our total book of business last year. Almost 2% of the loans in our Florida book are now referred to foreclosure. So, the housing market has returned to earth fast and hard. Some signs do offer rays of positive light. Foreclosures actually fell in Michigan . Same-period home sales were up in California . And as the GSEs provide most of the liquidity to the primary market, that market is functioning, and a safe center of credit risk pricing and product is being restored. All told however, that story all put together led us to again revise our credit loss estimate upward from the year, from 13 to 17 basis points to 23 to 26 basis points. And that, as you will note, commensurately drives our addition to loss reserves of almost $4 billion."
*emphasis added*
See the previous post from Tanta on Fannie Mae Push Backs. Alt-A lenders are probably pretty nervous.
Ear muffs! Ear muffs! Lalalalalalalalalala...
no_vaseline_IHB
New member
You need to cut your ears off with a straight razor and then bury your head in a 5 gallon bucket of quick dry concrete to ignore this. Yet it continues.
Seems loddly similar to post .com blowout equity market chatter.......
Seems loddly similar to post .com blowout equity market chatter.......
biscuitninja_IHB
New member
graphrix said:
:lol:
Nice. But really, how can anybody even halfway informed NOT notice this?
-bix
provider Says:
August 16th, 2008 at 7:05 am
Now that he has confimed it, for all the world to see, I will tell you why my name has changed. My name has changed because for two years I have been stalked by Graphrix (and his minions). The very same Graphrix who has been making fun of my names is the reason behind it! The hypochrisy is breathtaking! He told us all flat-out yesterday that he is following my every move. He’s been saying that for two years. And I know for a fact he means it. And I am far from the only one. That’s who he is. That’s what he is.
Graphrix, shame on you, picking on this poor person :lol:
It must be time for her medication. Or maybe time for a medication change?
August 16th, 2008 at 7:05 am
Now that he has confimed it, for all the world to see, I will tell you why my name has changed. My name has changed because for two years I have been stalked by Graphrix (and his minions). The very same Graphrix who has been making fun of my names is the reason behind it! The hypochrisy is breathtaking! He told us all flat-out yesterday that he is following my every move. He’s been saying that for two years. And I know for a fact he means it. And I am far from the only one. That’s who he is. That’s what he is.
Graphrix, shame on you, picking on this poor person :lol:
It must be time for her medication. Or maybe time for a medication change?
EvaLSeraphim_IHB
New member
Damn, Crackercakes, you're good if you can stalk more than one person at the same time. :roll:
graphrix_IHB
New member
Crackercakes! I love it!
Anyway, I really do think she needs help. All morning long on a Saturday, and she finally took a break. Either it was lunch time at the asylum, or after what I posted actually made her think that it is kinda strange to be saying the things that she has and as much as she has. I will still push her buttons but I am taking the approach to encourage her to seek help. Here was my response to that comment...
graphrix Says:
August 16th, 2008 at 11:45 am
provider: You are nuts.
Please, don’t flatter yourself. You wish someone were as sickly obsessed with a blog, or or someone on a blog, to follow you around. You change your name because you are nuts, no one is following your every move. Just more evidence that after posting non-stop on a Saturday that you need to get help. I am not joking, you really should seek help. Read the posts from today, you appear to be totally insane. It really does concern me that it has become worse lately. Scary, just really scary.
I'm worried that she will find Johnson's razorblades.
Anyway, I really do think she needs help. All morning long on a Saturday, and she finally took a break. Either it was lunch time at the asylum, or after what I posted actually made her think that it is kinda strange to be saying the things that she has and as much as she has. I will still push her buttons but I am taking the approach to encourage her to seek help. Here was my response to that comment...
graphrix Says:
August 16th, 2008 at 11:45 am
provider: You are nuts.
Please, don’t flatter yourself. You wish someone were as sickly obsessed with a blog, or or someone on a blog, to follow you around. You change your name because you are nuts, no one is following your every move. Just more evidence that after posting non-stop on a Saturday that you need to get help. I am not joking, you really should seek help. Read the posts from today, you appear to be totally insane. It really does concern me that it has become worse lately. Scary, just really scary.
I'm worried that she will find Johnson's razorblades.
no_vaseline_IHB
New member
http://lansner.freedomblogging.com/2008/08/17/2q-oc-home-price-drop-4th-worst-in-us/
I make a response to a post "Who shouldn't you trust" and our friend goes balistic on Graphrix.
She should know me and Graph are different people. I wouldn't be caught dead driving a BMW.
I make a response to a post "Who shouldn't you trust" and our friend goes balistic on Graphrix.
She should know me and Graph are different people. I wouldn't be caught dead driving a BMW.
no_vaseline_IHB
New member
http://lansner.freedomblogging.com/2008/08/22/early-aug-oc-homebuying-up-10/
Look who's back? No, not her silly. She'll never leave.
"By special arrangment - now appearing: Irvine Renter "
Look who's back? No, not her silly. She'll never leave.
"By special arrangment - now appearing: Irvine Renter "
biscuitninja_IHB
New member
Vas,
There are some quite hostile people on the that board. I still can't believe people WANT TO BELIEVE things are ok. Yes they are looking ok in July/Aug. But now that selling season is almost over, its going to be ugly... quick.
Let also not forget that the holiday selling season is going to be here sooner than people think and money is going to get tight.
we will see.
-bix
There are some quite hostile people on the that board. I still can't believe people WANT TO BELIEVE things are ok. Yes they are looking ok in July/Aug. But now that selling season is almost over, its going to be ugly... quick.
Let also not forget that the holiday selling season is going to be here sooner than people think and money is going to get tight.
we will see.
-bix
graphrix_IHB
New member
What a hypocrite. How dare IHB profile all those poor families suffering through tough times. Now, when it comes to her paycheck, it is okay to make money off of it. I have been nice to her lately, but this hypocrisy is just staggering.
provider Says:
August 22nd, 2008 at 10:43 am
“Dian…… i am 100% certain…. that the next leg in the credit collapse….. is going to make provider cry……”
Foreclosures will increase my income, dear.
provider Says:
August 22nd, 2008 at 10:43 am
“Dian…… i am 100% certain…. that the next leg in the credit collapse….. is going to make provider cry……”
Foreclosures will increase my income, dear.
No_Such_Reality_IHB
New member
biscuitninja said:
I fail to see how -30% in price in any fashion can be interpeted as okay.
What? Volume is up from essentially zero?
biscuitninja_IHB
New member
NSR,
I agree with your reasoning... but soemhow I just don't see the reasoning with these people??? Losing money is still a negtative... but that's JMHO....
-bix
I agree with your reasoning... but soemhow I just don't see the reasoning with these people??? Losing money is still a negtative... but that's JMHO....
-bix